What is one benefit of selecting an income-based repayment

Last updated: 8/4/2022

What is one benefit of selecting an income-based repayment plan for your student loans? If you take a job that pays a low income, you will never have to pay any of your student loans Your student loan interest rate will fluctuate based on how much you've earned in the previous year Your monthly loan payment will be based on your income, so that you're not paying more than 20% of income toward your loans The total loan amount will be decreased to meet your starting salary at your first post-college job